Power rates to rise nearly $3 for former Bangor Hydro customers

Posted July 01, 2014, at 4:16 p.m.

PORTLAND, Maine — Emera Maine residential power customers in the former Bangor Hydro Electric Co. service area will see monthly electricity bills rise an average $2.89 starting Tuesday, while customers in the former Maine Public Service territory will see bills decline 13 cents on average.

The rate changes are the result of a request filed last fall with the Maine Public Utilities Commission, which gave final approval to the rate increases Monday.

With the changes, the company reported the average monthly bill in the former Bangor Hydro area will be $89.09. The change affects 101,431 customers.

That average monthly price will be $80.40 in the former Maine Public Service area, which includes 30,225 residential customers.

Though parent company Emera merged the two utilities as Emera Maine at the beginning of 2014, the company still manages rates separately for the two coverage areas.

Those Maine Public Service region rates dropped mostly because of rising transmission revenues and decreases in stranded costs, partly as a result of about $4 million Emera received from the settlement of litigation between Maine Yankee, of which it was a 5 percent owner, and the U.S. Department of Justice.

The changes reflect increases the company requested to the distribution portion of customers’ bills and were based on an annual revenue requirement of about $80.1 million and $1.2 million in storm damage costs in the past year. The approved increase also includes funds for Emera to cover costs of a new customer information system to go into service on Aug. 1, 2014.

The last distribution rate increase in the Bangor Hydro district was in 2008. The last distribution rate increase for the Maine Public Service district occurred in 2006.

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